Major cannabis technology and marketing platform operator Leafbuyer Technologies (OTCMKTS:LBUY) saw its stock come into significant focus among investors yesterday as it clocked gains of as much as 8% for the day.
Trading Data
On Tuesday, LBUY stock gained 8% to $0.0550 with more than 88K shares, compared to its average volume of 127k shares. The stock moved within a range of $0.0509 – 0.0570 after opening trade at $0.0546.
Earnings Recap
Yesterday, the stock came into focus after the company announced financial results for the second fiscal quarter of 2022 that had ended on December 31, 2021. The revenues for the period came in at $923829 and that reflected a year on year rise of as much as 53% from the revenues of $602,787 that it had generated in the same period last year.
However, that was not all. The company also managed to bring in as much as $261,770 in the form of gross profits and that also reflected a hefty year on year rise from the gross profits of $115,746 in the corresponding period last year.
The company’s Chief Executive Officer Kurt Rossner spoke about the performance as well and noted that everyone at the company was pleased with the growth that was generated by Leafbuyer during the quarter. The rally in the stock is perhaps understandable and it is now going to be interesting to see if it can add to its gains today.
Key Quote
Kurt Rossner, Chief Executive Officer of Leafbuyer, stated, “We are very pleased with the significant growth over the last twelve months. Our growth was nearly three times the industry average and a substantial acceleration from previous results. We continue to drive innovation with our product development and continue to broaden our national sales footprint.”
Technical Data
LBUY stock is above below 20-Day and 200-Day Moving averages of $0.0552 and $0.0877 respectively. However, the stock is trading above the 50-Day moving average of $0.0534.
